Perpetual has failed to get injunctions to stop seven senior advisers from soliciting its high-net-worth clients after staff raids by rival Ord Minnett, as court rulings reveal the wealth adviser fears almost 250 clients are at risk.
Supreme Courts in Victoria and Queensland have found Perpetual’s case to enforce its “extremely broad” non-solicitation clause – which would have stopped clients from transferring to Ord Minnett – was weak and held it was not in the public interest to restrict clients’ freedom of choice.
